HB Wealth Management LLC Invests $6.58 Million in BlackRock, Inc. (NYSE:BLK)

HB Wealth Management LLC purchased a new stake in shares of BlackRock, Inc. (NYSE:BLK) during the 4th quarter, according to its most recent filing with the SEC. The institutional investor purchased 6,417 shares of the asset manager’s stock, valued at approximately $6,579,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Pathway Financial Advisers LLC increased its stake in BlackRock by 89,389.4% in the third quarter. Pathway Financial Advisers LLC now owns 1,046,131 shares of the asset manager’s stock worth $993,312,000 after purchasing an additional 1,044,962 shares during the period. International Assets Investment Management LLC grew its holdings in shares of BlackRock by 104,468.9% in the third quarter. International Assets Investment Management LLC now owns 792,632 shares of the asset manager’s stock worth $7,526,120,000 after purchasing an additional 791,874 shares during the last quarter. Assenagon Asset Management S.A. bought a new stake in BlackRock during the 4th quarter valued at about $330,662,000. FMR LLC boosted its position in BlackRock by 10.6% in the 3rd quarter. FMR LLC now owns 2,363,965 shares of the asset manager’s stock valued at $2,244,608,000 after buying an additional 226,135 shares during the period. Finally, B. Metzler seel. Sohn & Co. Holding AG bought a new position in BlackRock in the 3rd quarter worth about $115,377,000. 80.69% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, Director Mark Wiedman sold 36,190 shares of the stock in a transaction dated Friday, December 6th. The stock was sold at an average price of $1,045.90, for a total value of $37,851,121.00. Following the transaction, the director now directly owns 6,480 shares of the company’s stock, valued at approximately $6,777,432. This represents a 84.81 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Robert L. Goldstein sold 54,000 shares of BlackRock stock in a transaction dated Thursday, December 5th. The stock was sold at an average price of $1,046.03, for a total value of $56,485,620.00. Following the sale, the chief operating officer now directly owns 41,916 shares of the company’s stock, valued at $43,845,393.48. This trade represents a 56.30 % decrease in their position. The disclosure for this sale can be found here. 0.90% of the stock is owned by company insiders.

BlackRock Price Performance

Shares of BLK opened at $1,004.23 on Friday. The company has a 50 day moving average of $1,027.33 and a two-hundred day moving average of $946.18. The company has a quick ratio of 5.06, a current ratio of 5.06 and a debt-to-equity ratio of 0.37. BlackRock, Inc. has a twelve month low of $745.55 and a twelve month high of $1,082.45. The company has a market cap of $155.53 billion, a price-to-earnings ratio of 24.78, a price-to-earnings-growth ratio of 1.53 and a beta of 1.28.

BlackRock (NYSE:BLK) last posted its quarterly earnings data on Wednesday, January 15th. The asset manager reported $11.93 earnings per share for the quarter, topping analysts’ consensus estimates of $11.52 by $0.41. BlackRock had a return on equity of 15.52% and a net margin of 31.37%. The firm had revenue of $5.68 billion during the quarter, compared to analysts’ expectations of $5.57 billion. During the same quarter last year, the firm earned $9.66 EPS. The business’s quarterly revenue was up 22.6% on a year-over-year basis. As a group, analysts predict that BlackRock, Inc. will post 43.02 earnings per share for the current fiscal year.

BlackRock Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 23rd. Investors of record on Thursday, December 5th were given a $5.10 dividend. This represents a $20.40 annualized dividend and a dividend yield of 2.03%. The ex-dividend date was Thursday, December 5th. BlackRock’s payout ratio is currently 48.57%.

Analyst Ratings Changes

Several research firms have recently weighed in on BLK. Deutsche Bank Aktiengesellschaft lifted their price target on shares of BlackRock from $1,215.00 to $1,275.00 and gave the company a “buy” rating in a research note on Thursday. Wells Fargo & Company upped their target price on BlackRock from $1,155.00 to $1,175.00 and gave the stock an “overweight” rating in a report on Thursday. Keefe, Bruyette & Woods cut their price target on BlackRock from $1,225.00 to $1,160.00 and set an “outperform” rating on the stock in a research note on Monday, January 13th. TD Cowen upped their price objective on shares of BlackRock from $960.00 to $1,077.00 and gave the stock a “buy” rating in a research note on Thursday, October 10th. Finally, Citigroup raised their target price on shares of BlackRock from $1,150.00 to $1,200.00 and gave the company a “buy” rating in a research report on Monday, December 23rd. Three equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $1,103.33.

BlackRock Company Profile

BlackRock, Inc is a publicly owned investment manager. The firm primarily provides its services to institutional, intermediary, and individual investors including corporate, public, union, and industry pension plans, insurance companies, third-party mutual funds, endowments, public institutions, governments, foundations, charities, sovereign wealth funds, corporations, official institutions, and banks.